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3 Orchard St, Pittsfield, M...

Glenridge LLC Acquires Multifamily Portfolio In Pittsfield, MA For $5.2M
SOLDMultiFamily

Glenridge LLC Acquires Multifamily Portfolio In Pittsfield, MA For $5.2M

3 Orchard St, Pittsfield, MA 01201

$5,200,000

$79/SF

Building Size

65,700 SF

Asset Type

MultiFamily

Closing

Oct 26, 2022

AI

The multifamily property located at 3, 11, 13, 15 & 21 Orchard Street; 14 & 18 Kent Street; and 154, 156, 164, 172 & 174 Summer Street in Pittsfield, MA has been sold. The transaction took place on October 26, 2022.

Summary of transaction details

Glenridge LLC purchased the property from Bellco Realty. The deal was facilitated by Taylor Perun and Tim McGeary from Northeast Private Client Group, who represented the buyer and seller respectively.

Players

Taylor Perun

NorthEast Private Client Group

Broker

$162.5M

vol

16 deals

Broker

Pittsfield MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.05%

Cash-on-Cash

-0.87%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93